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Strong report from Aquis Stock Exchange underscores innovation culture

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Aquis Exchange [LON: AQSE] released some punchy numbers this morning, announcing a 24% increase in net revenue as it published audited results for the year ended 31 December 2022. Profit before tax was up 27% with underlying profit soaring by 41%.

At a time when there is so much hand wringing about the state of UK equity markets, the results from Aquis make refreshing reading. Aquis has positioned itself as a next-generation marketplace for companies seeking a listing in London, hosting a broad range of innovative, early growth stocks.

AQSE is a Recognised Investment Exchange under Section 285 of the UK’s Financial Services and Markets Act (2000) which allows it to operate a regulated listings venue, at the same level as the London Stock Exchange or the London Metal Exchange. It provides a Main Market for established companies with a track record of more than three years, and a Growth Market for enterprises seeking visibility and access to growth capital. This latter has a regulatory framework designed to meet the needs of small and medium-sized companies.

AQSE currently hosts the shares of more than 100 companies across several sectors including engineering, green energy, e-sports and banking. It is also open to appropriate European companies that might be seeking an additional cross-listing in the UK.

Strong performance in secondary market trading

Aquis reported that cash and cash equivalents stood at £14m, which is a marginal increase on the previous year. The exchange reported strong performance in its pan-European secondary market trading, primary market activities for the Aquis Stock Exchange, as well as data revenue. It also hosted an impressive 22 IPOs over the period under review, which is the most for any growth company exchange in the UK.

The company has been very busy over the calendar 2022 period, launching its Aquis Matching Pool, which has further diversified its offering into dark pools. This has helped to offset the decrease in lit volumes across the market.

According to CEO Alasdair Haynes, the Aquis Group has been benefitting from growth in its technologies division. This is an area all exchanges we talk to are devoting considerable attention to as they seek a competitive edge.

“From the fledgling pan-European secondary market equities trading platform that we launched a decade ago, it is edifying to see Aquis transform into a profitable and growing Group that creates and facilitates next-generation financial markets,” Haynes said. “In 2022, we saw milestones reached in each division with the launch and growth of the Aquis Matching Pool (AMP); significant interest in Aquis Technologies’ pioneering exchange technology and particularly its cloud-native and 24/7 functionality, and an impressive 22 new listings on the Aquis Stock Exchange – the most of any growth exchange in the UK.”

Haynes said he sees significant further growth opportunities for the company across all its divisions as it evolves to meet the changing dynamics of UK equity markets.

Looking ahead, Aquis has said it has seen trading in line with expectations, despite overall global macroeconomic uncertainty. It successfully completed a rebrand earlier this year that better reflects its diversification across different revenue streams.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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